True cost of Fannie/Freddie bailout more than twice Obama administration claim

Ed Morrissey
HotAir.com
6/6/2011

The CBO has a problem with the Office of Management and Budget’s calculation on the cost of the Fannie Mae/Freddie Mac bailouts, and it’s no small calculation error.  OMB has calculated the costs of the bailout at $130 billion, a number repeated on occasion by the Obama administration.  By the CBO’s calculation, the cost of the bailouts reaches $317 billion, more than twice the White House estimate…

…Had the federal government divested Fannie and Freddie by now, we would not be in the position of guaranteeing their ongoing loans.  As CNS news notes, though, the federal government continues to issue explicit guarantees on Fannie and Freddie, allowing them to borrow at a lower rate…

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